My Rant on 401K and Roth IRA

January 28, 2008 by Kin

I’m here to confess today. I don’t have Roth IRA nor do I plan to open one, au contraire to just about any books, blogs, or references you may have read about personal finance. I do contribute to my 401k to get my company match. It’s my way of putting the personal aspect in my personal finance.

I dislike the illiquidity of retirement account due to the fact that withdrawal without penalty is not allowed until retirement age, which is a long freakin’ 40 years away for me. Enough of my money is “locked up” in my 401k, especially because I made extra contribution to kick start the account in the past/1st year of my career. I switched back to the company matching percentage in the new year.

It’s not like I’m guaranteed to live that long. And honestly, I don’t plan to live that long, pass 80s and such. There is only so long one can stand the absurdity of human society :P Among various factors like not living ’til I have saggy skin, 401k, my wonderful(boring) discipline with money, taxable accounts, and the hopes of a very established future spouse(a.k.a. sugar mama), somehow I have faith that I will manage.

I’m done with my rant. Now is your time to call me stupid.

Oh, I was just kidding about the sugar mama since, bluntly, no one can cover your own a** better than yourself.